ETX Capital -From The Floor is a daily briefing and global market report to keep you informed as you trade

1. From The Floor
03 October 2011
Key Global Indices
UK Market Snapshot
Last 1D % 5D % 1M% 1Y%
Cl ose Chg Chg Chg Chg  UK markets closed sharply lower on Friday, as flat Chinese PMI data and
FTSE 100 5,128.5  -1.3% 1.2% -4.9% -7.6% larger than expected fall in Germany’s retail sales weighed heavily on
DJSTOXX 50 2,159.7  -0.9% 5.3% -3.5% -13.0% investor sentiment. Intertek, the top laggard on the FTSE 100 index, slumped
FTSEurofirst 300 923.4  -1.1% 4.7% -4.5% -13.0% 9.5%, after UBS downgraded its ratings on the stock to “Sell” from “Neutral”
German DAX 30 5,502.0  -2.4% 5.9% -4.9% -11.7%
and also included it in its “least preferred” list of industrial stocks. Standard
French CAC 40 2,982.0  -1.5% 6.1% -8.4% -19.7%
Chartered, Lloyds Banking and Royal Bank of Scotland, retreated between
Russia RTS Index 1,341.1  -3.5% 1.9% -21.2% -11.0%
S&P 500 1,131.4  -2.5% -0.4% -7.2% -0.9%
4.1% and 5.2%, tracking a decline in their European peers. Barclays fell 4.6%,
Dow Jones Industrials 10,913.4  -2.2% 1.3% -6.0% 1.2%
as its Japanese unit faced a 10-day trading suspension on some operations,
Nasdaq Composite 2,415.4  -2.6% -2.7% -6.4% 2.0% on allegations of violating short-selling rules. BP slipped 0.8 %, amid report
Brazil Bovespa 52,324.4  -2.0% -1.7% -7.4% -24.6% that its plan to sell a stake in Argentina-based Pan American Energy, was on
Nikkei 225* 8,470.6  -2.6% 1.6% -2.8% -7.1% the verge of collapse due to opposition from Argentinean politicians. FTSE
Shanghai Composite 2,359.2  -0.3% -3.0% -8.1% -11.2% 100 shed 1.3% to close at 5,128.5, while FTSE 250 lost 1.7% to 9,819.4.
Sensex* 16,101.4  -2.1% 1.8% -1.3% -18.0%
*Time - BST 5:23:19 AM
European Market Snapshot
 Other European markets closed in the negative territory on Friday, led by
5,210 losses in banks, as a decline in Chinese manufacturing activity, and an
unexpected rise in consumer price inflation in the eurozone, increased
5,173 concerns that the global economy was stalling. Moreover, a slew of broker
downgrades dampened market sentiment further. Exporters, BMW, Daimler
5,135 and Hugo Boss, slumped between 3.4% and 12.0%, amid worries over
demand prospects. BNP Paribas and Societe Generale, plummeted 3.5% and
5,098 5.1%, respectively, after UBS trimmed its price target on these stocks, while
Deutsche Bank fell 6.8%, after Handelsblatt reported that the bank might
5,060 lower its earnings estimates for this year. Metro and Adidas, eased 4.3% and
8:00 9:45 11:30 13:15 15:00 16:35
1.0%, respectively, after retail sales in Germany fell 2.9% in August. Philips
sank 4.1%, after HSBC trimmed its earnings estimates on the stock for the
next two years. FTSEurofirst 300 index declined 1.1% to 923.4. German DAX
11,180 Xetra 30 fell 2.4% to 5,502.0. French CAC-40 edged down 1.5% to 2,982.0.
11,108 US Market Snapshot
 US markets plummeted on Friday, as disappointing global economic data
11,035
reignited fears of a global economic slowdown. Further, a drop in US
personal income for August dampened market sentiment. Goldman Sachs
10,963
tumbled 5.3%, following a cut in its price target by a broker. Micron
Technology, the top laggard on the S&P 500 index, plunged 14.1%, as it
10,890
9:30 10:45 12:00 13:15 14:30 15:45 swung to a loss in the fourth quarter. Hewlett-Packard lost 5.6%, after it
agreed to pay its ousted Chief Executive, Leo Apotheker, a $7.2 million
severance payment. Bank of America, JPMorgan Chase and Citigroup, fell
between 3.6% and 4.8%, amid persisting eurozone debt woes. Ingersoll-
8,550
Rand slumped 12.1%, after it forecast third quarter earnings below analysts’
estimates. Eastman Kodak slumped 53.8%, amid fears that the company is
8,528
on the brink of bankruptcy. DJIA slumped 2.2% to 10,913.4. NASDAQ
tumbled 2.6% to settle at 2,415.4. S&P 500 shed 2.5% to end at 1,131.4.
8,505
8,483 Asian Market Snapshot
 Asian markets are trading lower this morning, taking cues from heavy losses
8,460
9:00 9:45 10:30 11:15 13:00
on Wall Street on Friday. Banks and exporters are trading lower ahead of a
key meeting of the European Finance Ministers in Luxembourg and amid
speculation that Greece's new budget would fall short of austerity measures.
Manoj Ladwa 0207 392 1487
In Japan, banking stocks, Mitsubishi UFJ Financial Group, Daiwa Securities
Index and Equity Desk 0207 392 1479
Group, Mizuho Financial Group traded lower, as risk appetite decreased
Institutional Equities 0207 392 1477 among investors. Exporters, Sony, Canon and Honda Motor, traded lower,
Commodities 0207 392 1403 amid worries over demand prospects amid the ongoing global economic
Options 0207 392 1472 worries. In Hong Kong, energy stocks, Cnooc and Petrochina, paced declines,
Currencies 0207 392 1455 tracking a fall in crude oil prices. Metal sector stocks, Aluminum Corp. of
Internet Dealing Desk 0207 392 1434
China and Jiangxi Copper, traded lower, tracking lower base metal prices.
Nikkei 225 index is trading 2.6% lower, at 8,470.6, while Hang Seng index is
down 4.6% at 16,789.4. Markets in South Korea are closed today on account
of public holiday.
ETX Capital, Beaufort House, 15 St Botolph Street, London EC3A 7DT Tel+44 (0) 207 392 1453
customerservice@etxcapital.co.uk www.etxcapital.com Refer to the last page for disclaimer

2. 3 October 2011
Commodities
83.7
1647.5 9,090 2,370
82.2 1636.6 8,518 2,315
$/ M T
$/ b b l
7,945 2,260
$ /OZ
80.6 1625.8
7,373 2,205
79.1
1614.9
6,800 2,150
77.5
0:00 5:30 11:00 16:30 22:40 1604.0 16-Sep 21-Sep 26-Sep 29-Sep
0:00 5:40 11:20 17:00 23:40 Copper - LHS Aluminium - RHS
 In Asia, crude oil for November delivery is trading 1.4% or $1.08 lower at $78.12 per barrel. On Friday, crude oil for November
delivery fell 3.6% or $2.94 to end at $79.20 per barrel, amid speculation that a slowdown in the global economy would curb
energy demand, after data showed that China’s manufacturing activity contracted in September and inflation in the Euro area
increased.
 Gold for immediate delivery is trading 0.4% higher today, at $1,629.95 per ounce. Gold for December delivery rose 0.3% or
$5.0, to settle at $1,622.30 per ounce on Friday, as lingering concerns about global economic recovery spurred purchase of the
precious metal as an alternative investment. Gold prices also rose helped by bargain hunting from investors.
Currencies
1.1700 1.5675 1.3605
1.1639 1.5636 1.3529
1.1578 1.5598 1.3453
1.1516 1.5559
1.3376
1.1455 1.5520
1.3300
0:00 6:40 13:20 20:00 23:40 0:00 6:40 13:20 20:00 2:50
0:00 6:40 13:20 20:00 3:00
 At 0400 BST today, the GBP is trading 0.3% lower against the USD at $1.5531, 0.1% higher against the EUR at €1.1655, and
0.4% lower against the JPY at ¥119.54.
 The EUR is trading 0.5% lower against the USD at $1.3325.
 The EUR is trading 0.5% lower against the JPY at ¥102.56.
 The EUR is trading lower against the USD, ahead of European finance ministers meeting today to weigh the threat of a default
in Greece and to pressurize the country to implement the agreed structural reforms to qualify for an international bailout
package.
 The JPY is trading higher against the USD, as most Asian equity markets traded lower, increasing the demand for safe haven
assets.
 NZD is trading lower against the USD after Standard & Poor’s joined Fitch Ratings in cutting the nation’s credit ratings.
 On Friday, the EUR closed lower against the USD and JPY, amid concerns that European policy makers would take more time to
announce measures to prevent the escalation of region’s sovereign debt crisis and after data showed that German retail sales
fell more-than-expected and US consumer spending slowed in August.
 The CAD ended lower against the USD, on fears that slowdown in the global economy would lead to a decrease in exports and
revenue of the country.
2 From The Floor Refer to the last page for disclaimer

3. 3 October 2011
Key Economic Releases Today
Conse nsus/ *
Country BST E c onomi c Indi c a tor P re vi ous Fre que nc y
A c tua l s
UK 0:01 Lloyds Business Barometer (Sep) 7.00* -3.00 Monthly
UK 0:01 Hometrack Housing Survey (MoM) (Sep) -0.10%* -0.10% Monthly
UK 0:01 Hometrack Housing Survey (YoY) (Sep) -3.50%* -3.70% Monthly
UK 9:30 Purchasing Manager Index Manufacturing (Sep) 48.50 49.00 Monthly
Germany 8:55 Purchasing Manager Index Manufacturing (Sep ) 50.00 50.00 Monthly
France 8:50 Purchasing Manager Index Manufacturing (Sep ) 47.30 47.30 Monthly
Eurozone 9:00 Purchasing Manager Index Manufacturing (Sep ) 48.40 48.40 Monthly
Switzerland 8:15 Real Retail Sales (YoY) (Aug) 4.50% 1.90% Monthly
Switzerland 8:30 SVME-Purchasing Managers Index (Sep) 50.50 51.70 Monthly
US 15:00 Construction Spending (MoM) (Aug) -0.30% -1.30% Monthly
US 15:00 ISM Manufacturing (Sep) 50.30 50.60 Monthly
US 15:00 ISM Prices Paid (Sep) 54.00 55.50 Monthly
US 22:00 Total Vehicle Sales (Sep) 12.55 mn 12.10 mn Monthly
US 22:00 Domestic Vehicle Sales (Sep) 9.65 mn 9.52 mn Monthly
US 23:00 Fed's Lacker Speaks in Madison, Wisconsin - - -
Japan 0:50 Loans & Discounts Corp (YoY) (Aug) -1.60%* -1.60% Monthly
Japan 0:50 Tankan Non - Manufacturing Index (Q3) 1.00* -5.00 Quarterly
Japan 0:50 Tankan Non - Manufacturing Outlook (Q3) 1.00* -2.00 Quarterly
Japan 0:50 Tankan Large Manufacturing Outlook (Q3) 4.00* 2.00 Quarterly
Japan 0:50 Tankan Large All Industry Capex (Q3) 3.00%* 4.20% Quarterly
Japan 0:50 Tankan Large Manufacturing Index (Q3) 2.00* -9.00 Quarterly
Re a l G D P - YoY CP I - YoY 10 Ye a r Bond Yi e l d 1.30%
UK 0.7% 4.5% 2.3%
US 1.6% 3.6% 1.9% 0.95%
Japan -1.0% 0.2% 1.0%
0.59%
France 1.6% 2.2% 2.5%
Germany 2.7% 2.4% 1.8%
0.24%
Brazil 3.1% 7.2% 4.0%
Russia 3.4% 9.0% 6.0% -0.12%
Sep-09
Jan-10
Jul-10
Sep-10
Jan-11
Jul-11
Nov-09
Mar-10
May-10
Nov-10
Mar-11
May-11
India 7.7% 8.4% 8.3%
China 9.7% 6.2% 4.1%
3 From The Floor Refer to the last page for disclaimer

4. 3 October 2011
Key Corporate Releases Today
UK
Compa ny N a me Re sul ts Curre nc y Ful l Ye a r Conse nsus
E sti ma te d E P S E sti ma te d Re ve nue (Mn)
James Halstead Plc Prelim GBP 27.38 246.50
Avanti Communications Group Plc Prelim GBP 7.34 27.78
Sabien Technology Group Prelim GBP - -
Note: All Estimates are for Full Year
Electrocomponents, Carclo Plc
City of London Investment Group, Qatar Investment Fund
Park Group, VP
Future, Jardine Lloyd Thompson Group, Legal & General Group, Portmeirion Group, Robinson, TUI Travel, Schlumber-
ger Ltd.
US
Compa ny N a me Re sul ts Curre nc y Ful l Ye a r Conse nsus Re l e a se
E sti ma te d E P S E sti ma te d Re ve nue (Mn) T i me
Wolverine World Wide Inc Q3 USD 2.49 1,420.00 D
Team Inc Q1 USD 1.55 566.09 D
Medical Properties Trust Inc Q3 USD 0.74 154.38 U
Cubic Energy Inc Q4 USD - - U
No te: A ll Estimates are fo r Full Year (A = A fter the market clo ses, B = B efo re the market o pens, D = During market ho urs, U = Time unkno wn )
4 From The Floor Refer to the last page for disclaimer

5. 3 October 2011
What’s Hot & What’s Not
Intertek Group -9.5%
4.8% Fresnillo
2.6% Randgold Resources Ltd Ashmore Group -7.3%
Standard Chartered -5.2%
1.5% Shire
1.0% WM Morrison Supermarkets Kazakhmys -4.9%
1.0% Severn Trent Barclays -4.6%
United Utilities WPP -4.5%
0.7%
0.5% SABMiller Lloyds Banking Group -4.4%
Wolseley AMEC -4.4%
0.4%
0.4% BG Group Man Group -4.3%
0.2% Centrica Intl Consolidated Airlines -4.1%
0.0% 1.3% 2.6% 3.9% 5.2% -9.9% -7.4% -5.0% -2.5% 0.0%
Major Movers & Shakers
 Randgold resources rose 2.6% tracking higher gold prices.
 Intertek Group tumbled 9.5%, after UBS cut its recommendation on the stock to “Sell” and removed the stock from its list of
potential bid targets.
 Standard Chartered slumped 5.2%, after UBS trimmed its earnings estimate on the stock.
 Kazakhmys plummeted 4.9%, as copper prices declined.
 Barclays fell 4.6%, as its Japanese unit faced a 10-day trading suspension on some operations on allegations of violating short-
selling rules.
 WPP sank 4.5%, after Natixis downgraded the stock to “Reduce” from “Neutral”.
5 From The Floor Refer to the last page for disclaimer

6. 3 October 2011
Disclaimer
This e-mail, including its contents and any attachments are confidential. Please delete this email and notify the sender
immediately, if you are not the named recipient. You should not copy it for any purpose or disclose its contents to any other
parties. Copyright is the property ETX Capital.
Any prices or data contained herein are indicative and subject to change without notice; its accuracy is not guaranteed and
should not be relied on. E-mail transmission cannot be guaranteed to be secure or free from errors. The sender therefore does
not accept liability for any errors or omissions in the contents of this message which arise as a result of e-mail transmission.
Although ETX Capital has taken reasonable precautions to minimise the risk of transmitting software viruses, we advise you to
carry out your own virus checks on any attachment to this message. We make no representation or warranty as to the absence
of viruses in this e-mail or any attachments. In order to protect our customers and business and comply with our regulatory
requirements, we may monitor and read e-mails sent to and from our server(s).
If you receive this email in error, please telephone +44 (0) 20 7392 1494
ETX Capital is a trading name of Monecor (London) Limited which is registered in England at Beaufort House, 15 St Botolph
Street, London, EC3A 7DT under company number 851820, and is authorised and regulated by The Financial Services Authority,
FSA registration number 124721
6 From The Floor